Pedestrians walking through busy traffic at Shibuya intersection in Tokyo, Japan.
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The Asian market rose after Wall Street won for the third day in a row when tech stocks gathered. Investors are assessing the trade environment when the US reportedly overthrows tariff rhetoric and China will suspend tariffs.
China may waive 125% tariffs on certain US goods. Bloomberg reported I’ll quote a source familiar with this issue. Hong Kong’s Hang Seng Index was 1.36% higher, while Mainland China’s CSI 300 inch rose 0.35%.
Japanese benchmark Nikkei 225 1.88% rose, and Topix added 1.41%. South Korea Kospi Small-cap Cosdaq rose 0.86%, but 1.07%, as South Korea reportedly is approaching its trade deal with the US
Australian markets are closed on holidays.
Futures related to the S&P 500 increased by 0.3%, while Nasdaq-100 futures increased by 0.4%. Futures tied to the Dow Jones Industrial Average were hovered around the flatline.
Within the state overnight, three major averages were closed thanks to strong profits from Megacap Tech Name as investors continued to look for signs of progress in terms of global trade.
The S&P 500 reached 2.03% at 5,484.77, while the high-tech Nasdaq Composite added 2.74% to finish at 17,166.04. Dow Jones Industrial Average delayed two other indexes, which fell 6.6% on IBM, but added 486.83 points (1.23%) at 40,093.40.
Stocks of Nvidia, Meta, Amazon, Tesla and Microsoft have all been closed high, pushing the major average for the third day in a row
“We’re looking forward to seeing you in the future,” said Louis Navellier, chairman and founder of Navellier & Associates. “It appears that the market is positioning itself for short-term cuts in China’s current tariffs,” he added.
– Lisa Kailai Han and Pia Singh of CNBC contributed to this report.
